According to the public record, Flat 23, Fairmont House, London is a modern leasehold apartment with 775 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms with a balcony.
The apartment is in Fairmont House, Needleman Street, London, SE16.
Needleman Street, London, SE16 is located in the borough of Southwark within the SE16 postal district.
Flat 23, Fairmont House, London has a single entry in the Land Registry database from August 2021 and a single entry in the EPC database dated June 2021.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for Flat 23 Fairmont House London as £583,058 and the rental value as £2,653 per month giving an expected gross yield of 5.5%.
Over the last 12 months the sale value of Flat 23 Fairmont House London has decreased by £130 (0.0%) and its rental value has increased by £99 per month (3.7%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If Flat 23, Fairmont House, London is in very good condition we estimate a sale value of £612,211 and rental value of £2,785 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £542,244 and a rental value of £2,467 per month.
If you were able to purchase this property for the estimated value of £583,058, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £2,866 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, Flat 23, Fairmont House, London was last sold on 23 Aug 2021 for £610,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Aug 2021, the market for similar properties has risen 2.5%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Flat 23, Fairmont House, London within a radius of 220 metres over the last 2 years.
The most recent example is Flat 28, Fairmont House, Needleman Street, London, SE16 7AW, a Leasehold flat which sold for £675,000 in Aug 2023.
Read more about house prices in SE16.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Needleman Street, London, SE16 has a total of 138 addresses. According to our analysis of all the public data, Flat 23, Fairmont House, London is the 29th largest and the 22nd most expensive property on the street.
When compared to the postcode district it is £110k more expensive than the average property in SE16.
Flat 23, Fairmont House, London has an Energy Performance Rating (EPC) of B. This is based on the most recent assessment, dated 09 Jun 2021.
The property is connected to mains gas and has fully double glazed windows. It is heated using a community scheme.
The closest station to Flat 23, Fairmont House, London is Rotherhithe station which is 300 metres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around Flat 23, Fairmont House, London, 54.5% of property is privately rented and 23.7% is privately owned with a mortgage.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around Flat 23, Fairmont House, London, 13.5% of residents are recorded as possessing school level qualifications and 77.2% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around Flat 23, Fairmont House, London, the average age was 35.9 and the most common age was 27.
The graph below shows how this compares to Greater London and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around Flat 23, Fairmont House, London, 0.4% of property was a second home.
Comparison figures for Greater London and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around Flat 23, Fairmont House, London, there are an average of 0.5 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.